US fast food giant Burger King has been cleared by Canadian competition officials to move forward with its plans to acquire donut chain Tim Hortons and relocate its tax bracket across the boarder.
Reports say Canada’s Competition Bureau extended approval to the $11 billion takeover, which earned criticism as Burger King looks for lower taxes outside the US. While the Bureau focused only on the deal’s potential effects on competition, reports say regulators will also need to approve the deal on grounds it will offer a net benefit to Canada’s economy.
Some Canadian lawmakers have also suggested that Burger King’s plans prove Canada’s tax laws encourage foreign investment. But regulators across the globe have begun to scrutinize such inversion mergers; the European Commission, for example, is probing whether the deals constitute unfair state aid for foreign corporations.
Full content: Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI